Commercial rental vehicle and delivery company Ryder (NYSE: R) will be reporting earnings this Thursday before market open. Here’s what to expect.
Ryder beat analysts’ revenue expectations last quarter, reporting revenues of $3.35 billion, up 5% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ EPS estimates but full-year EPS guidance meeting analysts’ expectations.
Is Ryder a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ryder’s revenue to grow 7% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ryder has missed Wall Street’s revenue estimates multiple times over the last two years.
With Ryder being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for transportation and logistics stocks. However, the whole sector has been hit hard over the last month as stocks in Ryder’s peer group are down 5.1% on average. Ryder’s stock price was unchanged during the same time .
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